Media goliath Discovery says it has insurance in case the 2020 Tokyo Olympics are canceled because of the coronavirus
- The 2020 Tokyo Olympics could be cancelled because of coronavirus.
- The virus has spread to more than 12 countries in the past 48 hours and claimed more than 2,800 lives.
- Media giant Discovery said it is insured against losses if the games are cancelled.
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The International Olympic Committee warned earlier this week that the 2020 Tokyo Olympics could be cancelled because of coronavirus, but media giant Discovery said its insurance would protect it from losses if the games are cancelled, according to the AP.
During the PyeongChang Olympics, around 58% of the population in the top ten European markets watched the games with Discovery, according to Multichannel News. Discovery tried to ease investors' worries about the upcoming Olympics during an earnings call Thursday and said the company is insured against possible revenue losses if the 2020 games are cancelled.
Coronavirus has infected more 83,000 people globally, and killed more than 2,858 people, mostly in China, and continues to spread with more than a dozen countries reporting their first case in the past 48 hours.
A decision as to whether the Olympics will be cancelled must be made by late May, Olympic Committee veteran Dick Pound told the AP.